FINWIRES · TerminalLIVE
FINWIRES

Canyon Resources' Independent Board Committee Asks Shareholders to Take No Action on A2MP Investment's Acquisition Bid

By

Canyon Resources (ASX:CAY) said its independent board committee recommended that shareholders take no action on A2MP Investments FZCO's offer to acquire the company until they receive a formal recommendation from the committee, according to a Tuesday filing with the Australian bourse.

A2MP Investments, a majority shareholder of Canyon Resources, is looking to acquire all the ordinary shares in the company that it doesn't already own for AU$0.05 per share in cash.

The independent board committee is assessing the takeover bid and will update shareholders in due course, Canyon said.

Related Articles

Asia

Sarawak Consolidated Unit, Inland World to Co-Develop MYR83 Million Residential Project

Sarawak Consolidated Industries (KLSE:SCIB) unit SCIB Ecobuild signed a deal with Inland World to jointly develop a residential project in Sabah, Malaysia, with an estimated gross development value of 83.2 million ringgit, according to a Friday Malaysian bourse filing.The project, known as Dimpoukon Residence, will comprise two nine-storey condominium blocks with a total of 144 residential units.Under the deal, SCIB Ecobuild will be responsible for the project's implementation, management and execution, while Inland World will remain the registered and licensed developer.SCIB Ecobuild will be entitled to 80% of the project's net development profit,with Inland World receiving the remaining 20%.SCIB said the project is expected to be completed by February 2029, subject to the fulfilment of conditions and receipt of required approvals.

KLSE:SCIB
Asia

Energy World Extends Asset Purchase Agreement Delivery Deadline With Hallador Energy; Shares Down 3%

Energy World (ASX:EWC) agreed with Hallador Energy to extend the scheduled delivery date under its asset purchase agreement announced on May 30, with the deadline for loading equipment for shipment to the US extended to Sept. 4 from Aug. 31, according to a Monday Australian bourse filing.The company's shares fell past 3% in recent Monday trade.

ASX:EWC
Asia

MN Holdings Arm's MoU with China State Construction Engineering Expires on Completion of Term

MN Holdings (KLSE:MNHLDG) said a memorandum of understanding between its wholly-owned subsidiary MN Power Transmission (MNPTSB) and China State Construction Engineering has expired upon completion of its term on Aug. 6, according to a Friday filing to the Malaysian stock exchange.The MoU, which came into effect on Aug. 7, 2024, for a term of two years, was aimed at collaboration in procuring, developing, and undertaking any proposed projects, especially in the power industry.Under the pact, the two companies would target customers in the data center, solar, and independent power plant sectors throughout Malaysia. The deal also aimed to expand the companies in other ASEAN countries.The company's shares were up nearly 1% in recent trade.

KLSE:MNHLDG